If a short-run iso-profit line is defined as y=w1px1+∏+w2x′2py=w1px1+∏+w2x2′p then, an increase in w1w1 causes an increase in the slope and no change to the vertical intercept. Select one: True False

If a short-run iso-profit line is defined as y=w1px1+∏+w2x′2py=w1px1+∏+w2x2′p then, an increase in w1w1 causes an increase in the slope and no change to the vertical intercept. Select one: True False

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section: Chapter Questions

Problem 5WNG

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Question

If a short-run iso-profit line is defined as y=w1px1+∏+w2x′2py=w1px1+∏+w2x2′p then, an increase in w1w1 causes an increase in the slope and no change to the vertical intercept.

Select one:

True

False

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